Chapter 9 - Transfer of Title Flashcards
The title to real estate passes when a valid deed is
delivered and accepted
The primary purpose of a deed is to
transfer title of rights
A special warranty deed differs from a general warranty deed in that the grantor’s covenant in the special warranty deed.
applies only to a definite limited time.
The law that requires transfers of real property ownership to be in writing is the
statue of frauds
A third party holds title to property on behalf of someone else through the use of a
trust deed
Title to real estate that is inherited from a person who died testate is called a
devise
Which of the following documents is signed by the owner of the real estate?
-Special Warranty Deed
-Trustee’s Deed
-Reconveyance Deed
-Tax Deed
Special Warranty Deed
Which deed contains no expressed or implied warranties?
-Bargain and Sale Deed
-Quitclaim Deed
-Warranty Deed
-Grant Deed
Quitclaim Deed
All of the following are required for a deed to be valid EXCEPT
-a date
-a legal description
-the name of the grantee
-the signature of the grantee
-the signature of the grantee
The reversion of real estate to the state because of its lack of heirs or other persons legally entitled to own the property is called
escheat
What is the purpose of the acknowledgement by a notary public on a deed?
-To show the genuineness of the grantor’s signature.
A man owns a one-quarter undivided interest in a parcel of land, and he wants his interest transferred to his sister. As a rule, which action will transfer the man’s undivided interest out of his name?
-Delivery of the deed during the owner’s lifetime
A valid will devises the decedent’s real estate after the payment of all debts, claims, inheritance taxes, and expenses through the …
court action known as probate
A grantor who does NOT wish to convey certain property rights
may note the exceptions in the deed of conveyance.
A city dweller bought acreage in a distant county, never went to see it, and did not use it, although he regularly paid the real estate taxes on it. A farmer moved his mobile home onto the city dweller’s property, drilled a well for water, and lived there for many years. The farmer may have become the owner of the acreage if he has compiled with the state laws regarding ..
-adverse possesion
In which situation would a quitclaim deed be the MOST appropriate type of deed to use?
-to remove a cloud on title
The condemnation of private property for public use is exercised under the government right of
-Eminent Domain
A trespasser built a log cabin in a national park located in Pennsylvania and occupied the structure for over 21 years. That person will never be able to claim the property under adverse possession statutes because the possession was NOT
-Privately Owned
Grantee is to a deed as devisee is to a
A WILL
All of the following are true about adverse possession EXCEPT
-the person’s taking possession of the property must do so without its owner’s consent.
-occupancy of the property must be continuous over a specified time
-the person taking possession must compensate the owner at the end of the possession period.
-the person taking possession may become the owner of the property.
-the person taking possession must compensate the owner at the end of the possession period.
Property may transfer upon the death of its owner by all of the following means EXCEPT
-by devise
-by dedication
-by descent
-by escheat
-by dedication
A deed must be signed by the
-grantor
Normally, a deed will be considered valid even if
-it is signed by an attorney-in-fact rather than the seller.
In order for a deed to be a valid, the
grantor must be legally competent
